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CNBC
Oct 8, 2012 5:00pm EDT
to be focusing on how efficiently they run their business, not necessarily the global environment. i don't think things are ter anybody aluminum. i agree with pete. i don't think this is a tell across the industrial space. i think reasons to be excited about what is going on in aluminum but alcoa is not the name we are going to be doing cartwheels for. >> your girl. >> my girl. times i cartwheeled for her. >> move on to shares of am, they fell today, once again park the stock is down 9% since the sale of the iphone 5 s it fundamentals or maybe something else investors should be watching now joining us with the technical break down is chris verrone, head of technical analyst at strat teen jesse research partners. good to see you. >> good to be here. >> is it, in fact, a technical break down we are seeing crossing below the 50-day moving average? >> a pause or a risk. this is a stock leadership basically all year. we look at relative strength charts or what is done the last couple of weeks, it is certainly in that pause camp or that rest camp. breaking through that 640 level probably not the backd
CNBC
Oct 8, 2012 12:00pm EDT
pearson came to ibm it was a different environment. >> look -- >> pc business. nobody buying. >> but he's not saying they should be more like ibm, right. ibm didn't break apart. >> that was meg whitman's -- they did get rid they got lenovo to take them out of their pc business. it's like an eastman kodak. >> coming up, last word there >> ibm sold the future. that's why investors are rewarding ibm. hp they can't even see the price. >> meg whitman is not lou. >> credit card companies hitting all time highs. did you miss the boat? we'll get some answers plus shares of netflix up nearly 30% in the past week alone and now an up where grade by morgan stanley driving shares even higher. who wins the election versus earnings season. we'll examine what will have a bigger impact on the markets. [ male announcer ] this is joe woods' first day of work. and his new boss told him two things -- cook what you love, and save your money. joe doesn't know it yet, but he'll work his way up from busser to waiter to chef before opening a restaurant specializing in fish and game from the great northwest. he'l
CNBC
Oct 12, 2012 5:00pm EDT
the money center banks. there is not a bank that will do less bad in a difficult environment. this stock has had an amazing run back up from -- it was below 100 a couple of months ago. i would expect consolidation here. short period of time. let's not forget we are seeing rotation in other sectors. we were talking about on fast last night some of the things that contributed a great deal of performance to a lot of portfolio managers. these stocks are up a lot. goldman sachs is up 33% year to date. if you are nerving about potential head winds in november with the elections and that sort of thing it may make sense. what we are seeing today is taking profits. >> financials are up about 20%. certainly one of the big winners so far this year. dan is putting a put calendar on goldman. we crack open the play book. in the strategy we sell the daily put and use the money to buy the long on the same strike. you want the stock to be above the strike or put the strike before the expiration. so dan why don't you walk us through it? >> we use this last week. it worked very well for earnings. i want to do
CNBC
Oct 9, 2012 5:00pm EDT
seem to be good? >> the one thing not priced is better earnings and a better economic environment. everybody that you talk about is doom and gloom. the economic numbers have not been that great. so certainly some of it is justified. today was a very interesting day because the whole rally from the 2009 lows up until now has been driven by this push and pull between policy and economics and/or fundamentals rchlt today we had a policy response in kmien china and economic fundamentals and today the imf chose economic fundamentals which to me is a warning sign. it is not a place you want to go in all short. it is a warning sign. >> you were actually right. you were bullish from the 1400 level up to 1474. you are saying lock in profits? >> i would say absolutely lock in profits. i think you need to watch for the risk that the market has changed its stripes a little bit. i'm not all in turning bearish. >> what about a clf? what about a name like that where so much of the conversation has been about iron ore. prices seemed to have bottled but clf hasn't reacted to that. seems like you ha
CNBC
Oct 8, 2012 4:00am EDT
of the deloitte cfo service. they were asked what their views are on the current operating environment. joining us with more, chief economist at deloitte. good to see you. i suppose we had a record second quarter of declines. >> confidence went through the floor back in june on the result of what's going on in the euro area. you've seen a bit of a bounce. risk appetite up is bit so i think cfos are looking at the same things the equity markets are looking at, qe-3 in the states, ecb bond buying. but the interesting thing is the underlying stock support is getting rather more defensive, they're more focused on cash. if respect. >> so what can he can to in terms of laying confidence?f re >> so what can he can to in terms of laying confidence?espe >> so what can he can to in terms of laying confidence?ct. >> so what can he can to in terms of laying confidence?. >> so what can he can to in terms of laying confidence? >> so what can he can to in terms of laying confidence? >> a lot of concerns relate to things outside the uk, in particular the weakness of the euro area, uncertainty. so there are things
CNBC
Oct 12, 2012 4:00am EDT
squaur. if you look at the product environment space, more than 100 million. this is a new business which we started over the last three, four quarters. we are opposed to have a million dollars on our platforms. if you look at client relations, we have 32 new clients in q2 and many of them in the -- segment. so if you look at the indicators, all of them indicate that our specific execution of the direction has early resistance. at the same time, we've said that we are in a challenging economic environment. but we are investing for the future. increasing our revenue from europe and integration. that is not factored into the guidance because the deal is not closed. what does all this mean? early indicators indicate that our execution is yields business. we are confident over the long term. >> your dollar averages are flat. what's going on with your customers at the moment? are they taking a lot longer to make investment decisions and is that giving you less visibility about future guidance? >> there are two parts to the answer. if you look at this quarter, 98% of our revenue came from prepa
CNBC
Oct 9, 2012 12:00pm EDT
balance sheets are, you still have a certain amount of uncertainty and in this environment voss will lock in profits and take time to relax and reassess the environment. you have elections, fiscal cliff, the eurozone uncertainty and in that type of environment it is a case of i know things are strong when i get out and look to get back in later on. >> josh brown, what do you do with apple here? do you use the pullback as substantial as it has been, 10% from a peak at the end of september? do you use it as a buying opportunity or a flag in your face that says i have got real reason to worry here? >> i would caution anyone who is booking a funeral home for the final passage of the apple story. i think that's a little premature. technically speaking, we have big volume coming to google and apple and it is the same funds that own both these stocks. nobody should be surprised there is a dip at the beginning of the quarter. i think when have you a quarter where stocks out perform bonds to such a massive degree which is clearly what we saw here, you are going to see people rebalance out of equit
CNBC
Oct 9, 2012 4:00pm EDT
clients, the environment you want to stay is diversified as possible. i think this last quarter was a great example of that. europe, everybody looks at the negative in europe, yet it was a good place to be. spread your bets out right now. >> so do you expect that we are at this point going to see pretty good guidance, tough guidance? what about that guidance that you're looking for in. >> yeah, i think that's going to be the big question here. i think today's a great example of that. you have alcoa, the traditional capital goods manufacturing cyclical versus a yum brands, which is going to tell you maybe how the global consumer is doing. even the guidance we're going to get today may very well set the tone for what kind of messaging we get this earnings season. >> i want to tell you that alcoa is out three cents a share, actual earnings. expecting a flat showing. so it looks like it's better than expected. we are looking at a pop in the stock as these numbers are released. of course, we want to get more details on the quarter. revenue coming in at $5.8 billion versus an estimate
CNBC
Oct 12, 2012 3:00pm EDT
to earnings. so for example, today in the banks, jpmorgan posted an amazing number considering the environment that we're in. revenues were very strong, expenses were good. >> would you buy them on this dip? >> i would definitely buy jpmorgan. i think everyone is making a big deal about wells fargo being down. nims have been under pressure for years. >> net interest mare -- margins. >> right. thank you, all. have a good weekend. we'll watch for that story, rick. >> 51 minutes before the closing bell. the dow jones industrial average is lower by nearly six points. the nasdaq is lower by 2 1/2. >> don't go anywhere. we are just getting started on this very busy friday edition of the "closing bell." >>> coming up, wells fargo in the house. the bank cfo talks earnings, the ongoing fhfa investigation, and the health of the real estate sector. >>> plus, telling signs. both jpmorgan and wells fargo beat earnings, but which is the better buy for your portfolio? >>> and are you kidding me? what's more ludicrous, two congressional candidates almost coming to fisticuffs at a debate, or the european union
CNBC
Oct 11, 2012 4:00am EDT
clear that the external and internal environment wasn't looking favorable. the prolonged eurozone crisis and the possibility of so-called fiscal cliff in the u.s. is set to further send its dent on the exporters which is of course very important to the economy here. industrial activity also fell for a third month in a row and to top it all off, domestic demand is shrinking. retail sales dipped lower as koreans keep their wallets in their pockets, but all of this is in the cards. what surprised was the sharp cuts to growth projections this year and the next. meanwhile the central bank says its inflation target through 2015 to 3.5%, bok prices remaining low, those expected to stand pat until the end of this year and possibly cut once again in the first quarter of 12013. >> rhie, thanks for that. at the same time, the bank of japan minutes out today. members agree that japan's recovery has delayed considerably and some said they were concerned about the yen's strength. there's also fresh evidence of that slowing growth. core machinery orders in august dropped for the first time in three mon
CNBC
Oct 10, 2012 9:00am EDT
insulated in this environment, they're going after a high income consumer with a decent value proposition. >> michael, obviously gas prices are a real factor here, they tend to sell at a loss, it affected the quarter, this quarter. is it your view that will continue to be at least an influence on results in 2013? >> yeah, that's the thing that oftentimes investors don't recognize that gas does influence costco. oftentimes they strip it out when they're talking a little bit about, when they're talking about what their earnings look like. i think it will be under pressure, although it's hard for me to imagine gas at $5 a gallon doesn't have more downside than upside and a quick comment, if i was unclear, i completely agree with the other guest. i think they are going after a high-end consumer that is trading down, as i think melissa correctly pointed out. they're going for nordstrom's consumer, looking to be more efficient. >> and yet at the same time, michael, just to ram home that valuation point, it's twice as expensive as for example target or walmart in terms of what you're paying for
CNBC
Oct 10, 2012 4:00am EDT
to reverse that and saying we're in an environment where banks need to lend. it's a very, very small area. it's only on new loans and the funding scheme. it's not across the board. >> if this is happening at the same time that those implementations are starting to happen, does it matter? is that a significant counter to what the individual countries may be trying to achieve? >> i think it's a contradiction between what basel 3 is trying to achieve the next three years and what the rural economies particularly in europe need. >> which is what andy said -- >> it's an interesting conversation. >> we started off on the wrong point because the good times banks boosting, and in the bad times they are able to relax. but we have got to get to the right capital levels to begin with. >> it's a bit like the inflation theme. maybe a little bit of inflation isn't so harmful to us all. suddenly we don't need an inflation target that's too strict. going to have a little bit of inflation. >> just looking at the bank of england's record, i don't think we have a strict inflation -- not strict in the sense we f
CNBC
Oct 11, 2012 9:00am EDT
point here is that people are desperate for some kind of growth in a low-growth environment. there's a company even though it is hard to categorize that's had notable growth. here's another company that's a play on the real estate industry. still right now $32.90 to $33. >> i think it is just going to be a couple minutes, folks. bear with us. >> couple minutes, bob. >> we've got a couple of companies very much on the move. i think this linkedin. very overvalued stock on an earnings basis -- >> you like linkedin. >> you want momentum, linkedin lass it. momentum obviously trumps at times valuation. people saying that the quarter could be much better than spefktespefk expected. johnson controls looks like to be the next one that's going to not be able to make the numbers. wells fargo goes buy to hold. europe, we've totally forgotten the fact that europe -- spain did get downgraded. >> it's funny we haven't mentioned that at all today. >> isn't that incredible? that was the dominant theme in europe that perhaps this downgrade is going to cause the spanish to say, listen, we do need the
CNBC
Oct 12, 2012 6:00am EDT
trillion of dry powder just waiting to be used. do you expect in this environment with all of the uncertainty, the fiscal cliff, all of the issues we've been talking about all morning, that you can actually put all that money to work? >> for one, it's $1 trillion has been there for quite some time. it's not all of a sudden $1 trillion. it's been there for five, six, seven years so you typically have $800 million to $1 trillion of dry powder. the uncertainty is a good thing for private equity investments. you make the most of your money when you're doing things in uncertain environments so disique qudi disequilibrium is something people like us like. >> he doesn't seem to buy that the fiscal cliff is a big issue. i don't want to overstate it. >> it's a big issue. i think it's going to be resolved. i think everyone sooner or later does what's in their best interest, to resolve this problem. >> how are all of these issues, europe, china slowdown, fiscal cliff, what's going to happen to taxes, how is that impacting the way you're think being it. >> in any given period of time o
CNBC
Oct 8, 2012 3:00pm EDT
stocks keep making all-time highs in this environment? >> with us today are sam stovall and our own bob pisani. sam, it's going to come down to earnin earnings, right, which starts tomorrow? >> tomorrow. the bar is not just set low, it's set below, under water. >> below dirt. >> off the lows. capital iq is forecasting a 1.3% deline. it was down to 1.8%. big deal. i think some of the numbers underneath are a little more telling, such as right now the early beat ratio at 58% is below the average of 62%. in terms of guidance, those that are guiding negatively are 3.3 to 1 for those guiding positively. >> that sounds very negative for the stock market. >> well, i think it's baked in right now, or a lot of that is probably baked in. the real question is, whether we're likely to be seeing qe3 as the trough -- >> how can it be baked in if we're sitting at 4 1/2 year highs? how is that baked in? >> exactly. >> i think nothing is really new. what has come out yet that's going to tell us things are a lot worse than we anticipated? materials are expected to show 20% earnings decline. energy down 1
CNBC
Oct 9, 2012 3:00pm EDT
environment where price discovery has been destroyed because the price of money is fake and artificial and not real. >> peter, how are you investing in this environment ten? what are you doing in terms of allocating capital? >> well, you have to -- from the big picture fed perspective, you want to be protecting yourself in non-dollar assets and hard assets and commodities, precious metals, commodities that defends yourself against what the fed is doing. i think earnings will disappoint, not only for q-3, but also the guidance for q-4, so you have to be defensive over the next four weeks. >> everybody talks about the most hated rally. i know i coined that. while money has been coming out of stock mutual funds, there has been money going into etfs and high-yield bond funds. they're not really bond funds. in times of volatility, they act like stock funds. people are seeking alternatives in stock-like instruments. >> bob makes a great point about high yield. we have seen a virtual stampede into high yield. investors have to sell their soul to get 3% today. all is not well on the anniversar
CNBC
Oct 10, 2012 3:00pm EDT
. risks that lower quality companies and have been driven by the macroeconomic environment. we think it's going to be a shaming period. also, the risks of the budget deficit and 2013's challenges that regardless of who wins the election or controls congress is quite clear that the economy will have to suffer potentially from higher taxes and indeed reduced government spending. >> rick santelli, you heard that whole list of reasons. is that why we saw this ten-year auction today? people gobbling up ten-year government debt at these extremely low yields because they think they're not going to get much better elsewhere? sounds like people don't think there's a lot of growth coming. >> i think there's a little bit of truth in all of it. i'll bring up another point. i think october, a lot of mutual funds ahave the end of their fiscal year. it's been a good run for stocks. the spread between what the stock market is telling us and the economy is pretty wide. the election, depending how it turns out, could have a lot of implications. to me, it makes perfect sense the closer we get to the end o
CNBC
Oct 10, 2012 4:00pm EDT
environment -- there's no question it's tough. >> i mean, you are taking advantage of this, not a revival, but this emergence of the asian consumer. you're finding markets there that are meeting your needs very quickly, aren't you? >> sure. we have a business in asia. we've got a business in russia that exports to china. we have a business in india, brazil. we've got positions in our core businesses paper and packaging in the emerging markets. our biggest market is still here in north america. >> speak of north america, how concerned are you about fiscal cliff and what it might do to consumer demand here or business demand for your products? >> well, i think i'm a realistic optimist. i don't think we'll hit the fiscal cliff. i don't think that was intended by the members of congress. we're kind of going to probably deal with this at the 11th hour and the 59th minute. i think we'll manage through it because everybody, i think, in congress knows that wouldn't be a good thing for the economy. that's what's most important right now. >> jamie dimon of jpmorgan today revealed that they've set u
CNBC
Oct 11, 2012 3:00pm EDT
be select nif choosing in this environment. >> i guess you'd be selling then because you like the banks. why? >> i think that when you look at some of the large banks, you have rebound in capital market activity. these are banks that generally have taken their cost structures down. you've got a little bit of leverage going on as we speak. i think that's one of the main reasons. >> are you worried about all of these lawsuits? quarter of quarter, just when you think the litigation may be coming to an end, poof, there's more. this is, like, phillip morris of the old days. you're not worried about that? >> we're certainly concerned about it. i think what jpmorgan has done is taken litigation reserves, sometimes smaller amounts and sometimes larger amounts -- >> but that costs money and hurts profits, right? >> it does. but in general, they've beaten analyst expectations even with that. we've got $.5 billion litigation reserve in our estimates for the third quarter. we're at $1.37 well above the consensus. it could even be larger, and they could still beat consensus. >> matt, specifically to well
CNBC
Oct 11, 2012 4:00pm EDT
environment. where in the world are you finding that right now? >> well, it was easier to find it in u.s. stocks early in the year. the process we use with the allocation strategy funds that i manage is to do those three things. we still think the valuations are quite reasonable. but the thing that i'm worried about now is the macro side, that second part. the issue that we've had, we know the economic data has been weaker, and i think what most investors are doing is waiting on the sideline to see just what impact that slowing macro data is going to have on corporate earnings in the third quarter. >> you see the slow down coming or continuing right now, and a lot of cash sitting on the sidelines. nobody is doing anything. >> i think that's right. i don't think there's a lot of getting people to step in. the good news for this market and one of the reasons i'm not overly negative is that we're starting to -- we think that valuations are good and that companies have been managing very conservatively. they're also doing a very good job in guiding investor expectations comfortably lower,
CNBC
Oct 12, 2012 12:00pm EDT
the interest rate environment that we live in, which hurts the banks? >> yes, it has, because everybody knows that. so you'll get some more loan growth. i like aig. >> but as well as fargo surprised us with how bad the environment is from a net interest margin which plays directly into lower interest rates. >> you made money in wells fargo and made money in jpmorgan. what happened was expectations over the last month or so exceeded what reality was going to be, now is the time to get back in, that it's been reset. >> next up on "halftime" it's turning into one of wall street's biggest battles. walmart, amazon or best buy will come out on top and the first financial results are in. which bank. we'll continue that discussion, which bank should you be banking on? our traders debate which stocks are the best buys right now. we'll talk apple, too, rumors about the ipad mini, is a date really set? can it resume the rally in america's most valuable company, all that and more when "halftime" comes back. sometimes investing opportunities are hard to spot. you have to dig a little. fidelity's etf marke
CNBC
Oct 10, 2012 1:00pm EDT
environment, 1.5%, 2%, 2.5%, you need companies that underline earnings growth. you'll find that in a variety of areas, you'll find it in good staples company and fine technology companies. but being able to identify that to me is more important than simply buying dividend yields. as far as specific sectors are concerned of the defensive sectors, we would really rather rather be in staples or health care, more than utilities which we aren't really a fan of. tech has really taken it on the chin lately, but there is the ability to grow in a weak environment for technology stocks. >> jonathan golub, thank you for joining us today. >>> let's recap the markets for you at this point because we are at our lows of the session. we just had a gap to the downside, about 130 points now in negative territory for the dow at 13,338. can you guys put ucht p the 10- yield for me? i think we had a low -- which should be 1.69% on the 10-year yield. at this point they're moving into the bond market. look at that move on the 10-year yield. 1.68%. ty? it's going to be a rough afternoon. >> moving into bonds and ou
CNBC
Oct 10, 2012 6:00pm EDT
a stock that can generate tremendous multi-year gains. right now we're in an environment where there aren't a lot of companies with genuine rapid growth. but ulta salon and tractor supply, they have it in spades. they have the long-term secular growth that makes money managers salivate. they're like dogs at the dog tracks before they get the mechanical rabbit. anyway. let's start with ulta. here is a company that has 489 stores in 45 states. and we know these stores are doing very well, or at least in the united states. how do we know this? in the latest quarter ulta posted 8.93% in same-store sales. ulta plans to open 100 new stores this year, increasing told footage by 22%. that's what these managers are looking for. you might think that kind of expansion can't be sustained for very long. you'd be wrong. ulta believes they can have a 45% increase in the current store cap. that's what these managers like. that means the company still has a very long runway for growth and it's why investors have been lapping up the stomach stock all year. i think the stock can climb higher. even though wi
CNBC
Oct 12, 2012 11:00pm EDT
, while protecting our environment. across america, these technologies protect air - by monitoring air quality and reducing emissions... ...protect water - through conservation and self-contained recycling systems... ... and protect land - by reducing our footprint and respecting wildlife. america's natural gas... domestic, abundant, clean energy to power our lives... that's smarter power today. >>> different strokes here. you want to be a good investor, you immediate to understand that manage your money requires more than simply being able to coldly analyze each new piece of data. look, we're not computers here. we're human. with all the weaknesses that entails. when you are running your own portfolio, you have to be able to compensate for those weaknesses. for example, after just a lousy week like the one we just finished, there's a natural urge to try to ignore -- >> the house of pain. >> nobody wants to watch the market go down. yet, the moment you stop paying attention, that's when you really do get crushed. that's when you lose it all. i know it's hard to keep doing the homework.
CNBC
Oct 9, 2012 6:00pm EDT
their heart condition and cholesterol is like? >> well, it has been a tough economic environment for all of us. so, we have been doing pretty well from a market share standpoint and it is really based on the innovations that we have delivered. we have brought some things to the marketplace. i mentioned packaging technology. first was our steaming technology. the cafe steamers in 2008 and healthy choice cafe steamers was the biggest new strproduct of t industry of that calendar year. since then the steaming platform has been well. we have introduced the bakeden tr trays. that uses smart trays which allows you to bake a product in the microwave than you would in an oven in equal qual taity. >> first, you tried to make a giant acquisition and private label. you have keyed on making the small but valuable acquisitions that are bringing things to the bottom line. you still have a great balance sheet even after the acquisitions that you have done. >> jim, we stepped back a couple of years ago and said let's have a clear roadmap. we looked in the mirror and said we need to transform this portfolio to
CNBC
Oct 13, 2012 4:00am EDT
in an environment like this one. where so many hedge funds are lagging the market and so few really hot growth stocks. these guys are fighting for their professional lives, people. so they know they can't afford to have their clients ask them, you moron, why didn't you own google or visa or amazon or vista ulta salon or tractor supply, sherwin-williams or diageo. i believe they have been anointed by growth oriented portfolio managers. if it's a really bad market it won't matter, but i had stay focused on the hot list between now and the last week of december. and that brings me to two new ones. the last anointed names that round out the series. two smoking biotech stocks that have been rallying like crazy. first one is alexion, up 56% for the year and gilead, up 66% over the same period. alexion is one of these orphan drug companies, solarus treats rare blood disorders, called pnh it can lead to anemia, clotting and death. when you have a drug that treats an ultra rare, often lethal condition with no known cure like alexion does, you can charge any price. what price can you put on a life? a ye
CNBC
Oct 8, 2012 7:00pm EDT
-elected, the world will not end. it will look less aattractive from an investment environment. >> how many dow points will fall if obama is re-elected in your opinion? >> i would say 10% at least. >> just because obama wins? >> absolutely. >> and his policies? >> i'm just baiting you and see how you come out this. >> the policies are for real. the fact that he wins the stock market. >> a no growth economy is not going to support a price earnings ratio. >> obama believed in capitalism and believes in a different type of capitalism than other people. the other point is that -- the same argument was made in '08 and the stock market went up 100%. >> after getting crunched on the way down. thank you very much. we tried. coming up, unchecked, unlimited union power. oh, my goodness. in 30 days michigan is going to vote on a union-backed ballot member to make unionizing a constitutionally protected right. the michigan governor joins me next. he has something to say about that. later on, mitt romney blasts obama's foreign policy calling for the u.s. to play a tougher role, especially in the middle ea east, an
CNBC
Oct 5, 2012 11:00pm EDT
stop driving home here, owning expensive stocks risky in an environment when chipotle could be down 100 points. remember that day? that day changed my mind. rain in the risk, even if it means the reward will be crimped. unlike the movies, in real life, greed is bad. michael douglas and more importantly kirk douglas are huge fans of the show. i met them, i'm not kidding and i can just say as a kirk douglas fan, that's as great as it gets. i would link kirk's book if this were amazon, but it's a tv show. safeway meeting reports on thursday. so many -- this is the quarter. anyway so many people have tried to call the bottom in the stock, and all they have is thousands of shopping cartwheel rots on their backs. i'm thinking safeway will be like the checkout line, ten points or less. whole foods, not even that expensive when you factor in the growth rate. a re-enactment of safeway's quarter. okay. now, after the close thursday and this j.b. hunt transport, the trucking company, i don't spend enough time talking about how the truckers are doing. i'm used to the poor performance of a group i d
CNBC
Oct 9, 2012 11:00pm EDT
? are these resonant themes among the people who are buying stuff? >> it's been a tough economic environment for all of us. so we have been doing pretty well from a marketshare standpoint and it's really based on the innovations that we've delivered. we've brought some things to the marketplace that have markedly improved the quality of the food. i mentioned packaging technology. first was our steaming technology, the cafÉ steamers that were introduced several years ago. i believe it was 2008. healthy choice cafÉ steamers was the biggest new product of the entire industry of that calendar year. since then, those products, the steaming platform has done really well. we have recently introduced it, you just mentioned, the baked on trays. that's another packaging technology that uses smart trays, which basically allows the consumer to bake a product in the microwave in far less time than would take in the oven, with equal quality. so those kind of innovations along with moving into the desert to business on the healthy choice greek frozen yogurt have all helped strengthen that franchise. >> over the
CNBC
Oct 11, 2012 6:00pm EDT
in houston where the oil economy is pretty good. we know there are super low interest rate environments pushed boat loads of investors away from fixed income and then to stocks. my question is where does it end? obviously there is a limit on the amount of funds available to stocks. some investors will continue to hold cash. do you see downward pressure on stocks as the available cash dries up? >> first it ends for the texans on sunday night. that's against green bay. here's the deal. everyone has tried to look to this issue saying, listen, it's the bubble in yield going to pop. these companies haven't even started to raise dividends the way they can. they can borrow money in the public markets and buy back stock, increase the price of the stock, give you a bigger dividend. i think people are looking at this statically. how about if the dividend increases dramatically like it did for wearhouser tonight and other companies. the dividends are going higher. these aren't treasury bonds. they are organic. they live. just in time for the vice presidential debate p there was a great divide on t
CNBC
Oct 11, 2012 11:00pm EDT
good. we know our super rate environment has pushed boat loads of investors with fixed income incomes out of stocks. where does it end? there is a limit of the funds available for stocks. some investors will continue to hold cash. do you see future downward pressure on stocks as the available cash dries up? >> first, it ends for the texans on sunday night. anyway, that's an nbc gig with green bay. here's the deal. everyone's tried to looking through this issue. they all keep saying, listen, the bulb in yield is going to pop. the bubble in yield is going to pop. these companies haven't raised them the way they can. they can increase with buying back stock and increasing the price of stock. i think they will be ecstatic and saying the dividend isn't worth that much. how about if it increases dramatically like for warehouser and many companies. these are not treasury bonds, they are organic. they live. just in time for the vice presidential debate, there is a great divide on the street today. when animals attack, bulls and bears go at it again. i'm here to figure out who will win this ga
CNBC
Oct 8, 2012 6:00am EDT
earnings are not correlated with the macro environment. ubs writes that alexion is a significant double-digit growth driver but uses the orphan drug model where pricing and reimbursement are insulated, the biotech is up a whopping 400% over the past three years. keep in mind this is a speculative takeout target. another standout stock, gilead sciences is up 70% year-to-date, ubs has it as its top large tech biotech pick, it's attractively trading to a discount to the biotech sector, biogen up 50% in the past year thanks to its strong earnings performance and anticipation riding behind its multiple sclerosis drug bg12 which could get approval by year's end. another is buyout speculation. the firms are on the hunt for under the radar biotech firms, bristol-myers among others making big bets. andrew you've been following that as well. >> thank you for that report. lot of beta. see if there's any alpha. >>> in the next hour of "squawk box" former ubs american chairman robert wolf will join us to talk financials, jobs and the election, mr. obama's favorite banker. and later health care, a ma
CNBC
Oct 11, 2012 6:00am EDT
smith. he you may remember claimed that the bank had a toxic environment the where bankers referred to clients as muppets. the financial times is referring to an internal review found that weeks before smith's public resignation, he complained about his bonus and said he deserved to be paid more than a million dollars. the book, paid $1.5 million for the book. it's all a little -- >> we're saying it's all based on whether they call people muppets. that would be okay if you were doing -- fit's not beg bird, here we are talking about municipmuppe muppets. it's probably like not being client oriented, right? if they were doing everything for their clients but still calling them muppets, it wouldn't be an infraction, would it? >> if he was great for the clients -- >> could be a term of endearment. >> if i called you a muppet, how would you feel? >> i'm not one of those old guys in the balcony. i like those guys. andrew, what are the chances that braunstein goes to goldman and vineyard goes to jpmorgan zero. >> its it's like a wife swapping thing. >> vineyard is going to california to re
CNBC
Oct 12, 2012 9:00am EDT
for reinvestment in a low-rate environment. so that margin unlikely to improve any time soon. but two reinvestments dimon is looking at, one is lower credit borrowers. dimon quoted a cliff created by basel iii that disincentivizes people with a lower score than 680. the other is jpmorgan's own shares. dimon saying the bank will reapply at the beginning of 201 to buy back its shares and should do, quote, substantial repurchasing next year and still hit those bazel three capital targets. finally, on litigation, dimon said he doesn't expect additional reserves to deal bear stearns. he made that quote again, melissa, again about how in future crises, this is setting a bad example for help of big companies like a jpmorgan to actually come in and help here. of course, he's referring to the new york ag suit, and those lingering liabilities there. but wouldn't go any further on that note. >> all right. kayla, thanks for that. let's dig deeper into the banks reporting today. it's wells fargo in addition to bank of america. bringing in thomas alonzo and anthony pell lini of raymond james. it appears to go th
CNBC
Oct 10, 2012 12:00pm EDT
environment and the head winds that exist for those? >> that's funny. that's just fast money. i'd be all in or all out -- >> those aren't daily problems, though. >> here's what i do, i remove my opinion from it because who cares? what you want to look at what the historical precedent is when you get a sharp drop in interest rates, followed by a pivot back up, which is what we've had at the end of july. when that's happened in the past and i use the ten-week rate of change on the ten-year note yield. six months out every time information technology and consumer discretionary has outperformed. financials have outperformed all but once, and the industrials all but once, as well. so, again, you want to look at what performs with interest rates? and i think that goes to stephanie's point too. what could kill earnings next year? well, that's if we have further deterioration in international economic activity and all the global money printing doesn't work. now, let's get by whether that's right or wrong ten years from now. the fed is telling you to buy risk. the guys pretty printing the money a
CNBC
Oct 11, 2012 5:00pm EDT
there talk about how difficult the regulatory environment is -- >> yes. >> in an attempt, possibly, i don't know, but to talk about how difficult this administration has been on business. >> exactly, right. >> it wouldn't be so shocking to me to see. >> cautious. >> blankfein said that today in the interview. he said, look, this is tough on our business. i don't think he was saying we're going to crush the quarter. it's not a blanket -- >> i believe it's tough on their business too. i believe -- >> they are a little bit of a reining back of expectations. >> i would make one point, the options market is only pricing about a 3% move which is actually shy. >> 3% of jpmorgan. >> 3% jpmorgan, up or down, but the last four quarters, it's averaged about 4.25%. there's a little bit of complacency heading in here. jamie dimon doing what he does well yesterday makes investors feel more comfortable. but at the end of the day, capital market business, investment banks, this is very strained here and i cannot imagine these guys can stick their head out on a limb and say it's going to get better any ti
CNBC
Oct 12, 2012 7:00pm EDT
for voluntary action have fallen short. what secretary panetta said in a pre-9/11 environment we had warning to do something. he's pointing to cyberspace right now in that same way. remember, larry, i was there, and i saw those warnings and the cyberspace were in the same space. nbc news terrorism analyst, thank for helping us out. ? you bet. up, in, mitt romney won last week's debate big time. he became a game changer. what's the case he made to reelect barack obama? no one seems to know that including obama himself. that's next on "the kudlow report." ♪ [ male announcer ] the first look...is only the beginning. ♪ ♪ introducing a stunning work of technology. ♪ introducing the entirely new lexus es. and the first ever es hybrid. this is the pursuit of perfection. >> there was also one person on the stage when actually asked what he'd do to get the economy going again had an answer. he laid out our five-point plan to get this economy going and the other candidate, of course, just attacked. but the american people are looking for answer, not attacks. >> welcome back to "the kudlow repo
CNBC
Oct 8, 2012 1:00pm EDT
but just the significance of it, the regulatory environment, all of those things came together in a way that maybe she just couldn't foresee. >> susan, thanks for joining us. it is a good read. enjoyed it very much. >> appreciate you having me here. >> great interview there, sue. >>> sprint customers can now pick their own vanity phone number. i'm not kidding. the idea is simple. instead of a ten-digit number you just dial "power lunch" instead. call me. don't go away. ♪ [ piano ] you. we know you. we know you're not always on top of it. and how could you be? that often you just want... quiet. we know all that life demands from you. and how it's almost impossible for you to escape. almost. introducing a car made better for you in every way. the luxurious, all-new honda accord. it starts with you. >>> time for the power rundown. kayla tausche and bob pisani is with me as well. china, those tensions we mention seem to be deepening. nation, now friend or foe to the u.s. and its investors? what do you think, kayla? >> i learned last week that china apparently funds pbs so i'm inclined to
CNBC
Oct 8, 2012 11:00pm EDT
%. but the real reason these stocks will be anointed is their genuine high growth names in an environment where because of the slowdown worldwide there are very few real growth stocks out there. sure, many stocks rat 252-week highs. but google and amazon are barn burners. they're so obvious that they're not going to be ignored. every fund that already owns them will be double do you think between now and the end of the year if history is your guide. plus, you got a nice google reversal today, which gives you a chance to do some buying. the charters are going to be calling it the son of apple. they're going to say this reversal today is now the beginning of the big decline, like it was with apple. hey, can we just decide that apple and google are different companies? why don't we start with this amazon. we know that this company is oriented in online retail powerhouse, the widest selection of products, lowest prices, fastest, cheapest delivery. amazon is a beloved company that has cultivated fabulous relationships with its customers, and most important, it's still taking market share all over th
CNBC
Oct 11, 2012 1:00pm EDT
into the political environment so it's kind of unchartered territory for us at this point. so far the reaction to this idea has been fantastic. >> well, the chain got a lot of heat for trying to insert itself into the debate, "dear pizza hut, you're not helping," is the title of the slate.com editorial. the giveaway is still on but the company tells us it's stopped promoting it, asking people instead to express their opinions on pizza online. later on street signs -- obama or romney. the coffee cup wars. we'll have that. >> reminder, cnbc's going to carry the vice presidential debate tonight. it will be live, of course. our coverage will begin at 7:00 p.m. eastern on "the kudlow report" and continue on through the evening. the cnbc twicker will be live on debate night. use #cnbc2012 for a chance to see your tweet roll on the twicker. >>> today's yahoo! finance poll we asked -- how big a threat to the economy is the fiscal cliff? 13% say it is overblown. economy's getting stronger. 67% say it is serious. serious enough to push the country back into a recession. 20% say it is a problem. but i'm
CNBC
Oct 9, 2012 4:00am EDT
for the next move higher? is it india specific, global growth? >> both. i think the environment for policy makers in india has become much more forgiving. i think better bernanke will try to ease their concerns about quantitative easing and inflation, but it will make investors much more interested. there's also been --quantitativ inflation, but it will make investors much more interested. there's also been --to ease the quantitative easing and inflation, but it will make investors much more interested. there's also been --ease their quantitative easing and inflation, but it will make investors much more interested. there's also been -- what surprised them was how little money moved out. we saw very little selling in stocks by foreigners. that money has all come back in now. a the lot of sovereign wealth money that comes in and i think people are buying the long term growth story of a country that is very young and still growing. so if policies stick from here on out, i think that the economy will do a lot better. but investors will be looking to see that, they'll want to see some traction
CNBC
Oct 8, 2012 9:00am EDT
, cleaner energy, while protecting our environment. across america, these technologies protect air - by monitoring air quality and reducing emissions... ...protect water - through conservation and self-contained recycling systems... ... and protect land - by reducing our footprint and respecting wildlife. america's natural gas... domestic, abundant, clean energy to power our lives... that's smarter power today. domestic, abundant, clean energy to power our lives... we call this our mission.mpany, green toys teaches children that if i have a milk jug and i stick it in the recycling bin it can turn into something new. chase allows us to buy capital equipment to be able to manufacture in the states to the scale we need to be a global company. with a little luck green toys could be the next great american brand. find what's next for your business at chase.com/mainstreet >>> let's get you a sector check. the bond market closed but stocks quite open. utilities and materials top performing sectors. health care and tech are lag the broader markets. interesting, four sectors so far this yea
CNBC
Oct 9, 2012 6:00am EDT
that we have an environment where we can create more -- bernie hasn't got to work a day the rest of his life, bernie and billy are having a wonderful life, god bless this man, he's spending his time and his money getting the message out. we know how to create jobs. we've created them. the point i'm making is the taxes will go up when you have a bigger work base. >> right, and that -- >> that's what he's betting on. >> it's a supply side argument and anyway, we got to run because we have mr. mccain coming up. >> oh, good. >> we do. mitt romney says the middle east has become a more dangerous place during the obama administration. he made his remarks in what his campaign called a major foreign policy speech yesterday in virginia, joining us now is more, senator john mccain, joins us from raleigh, north carolina, where he's campaigning for governor romney. in a nutshell, senator, summarize the points that governor romney made that you think are most spot-on in terms of talking about the middle east and where we are right now. >> well, first of all, could i tell bernie now that he's recover
CNBC
Oct 10, 2012 6:00am EDT
guys trying to get at you. and it's a hurried environment. >> but sometimes what might motivate someone if they thought that you were thinking about it. you just want to bolster his confidence. >> no, not bolstering his confidence. we think he's that good. he is that good. i wouldn't look at the numbers too seriously, 31 or 28. a quarterback's job ultimately is to win games. and mark sanchez has proven he can do that. and he can -- like he pulled out a game a few weeks ago at the last couple of minutes and played miami. that was an ugly game. >> you think the jets can beat some of the best teams in the league? >> i think we were very competitive in the last game. >> we were in there all the way to the end, we made some, a little few mistakes and that cost the game. >> -- tebow next year too? >> yeah, absolutely. he'll be with us for three years. and i think he's going to have -- he's going to be a real asset in helping us win games. >> do you know? is he still a virgin? >> i don't really go into that. >> just, you know, inquiring minds want to know. >> inquiring minds want to know. >> n
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